Simon Property Group (NYSE:SPG) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Simon Property Group (NYSE:SPG) announced its quarterly earnings data on Monday. The real estate investment trust reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.02, Briefing.com reports. Simon Property Group had a net margin of 72.71% and a return on equity of 163.69%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $3.68 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. Simon Property Group updated its FY 2026 guidance to 13.000-13.250 EPS.

Here are the key takeaways from Simon Property Group’s conference call:

• Record real estate FFO of $4.8 billion (≈$12.73/share) for the year and Q4 REFFO of $3.49/share (up 4.2% YoY); 2026 guidance is $13.00–$13.25 per share (midpoint $13.13) assuming at least 3% domestic NOI growth and higher interest expense.
• Leasing momentum remained strong with ~4,600 leases (~17M sq ft) in 2025 (1,300 leases / 4.4M sq ft in Q4), portfolio occupancy at 96.4% for malls/outlets and 99.2% for mills, average base rents +4.7% YoY and leasing pipeline up ~15% YoY; new-lease rents disclosed at ≈$65/sq ft.
• Strategic investments and redevelopments—~$2 billion of acquisitions (including remaining Taubman interest and other high-quality assets), 20+ redevelopments completed, year-end development spend ≈$1.5B with a blended yield of 9% and a pipeline >$4B; company expects roughly $30M of NOI from completed projects in 2026.
• Strong capital position and shareholder returns—returned ≈$3.5B to shareholders in 2025 via dividends and buybacks, announced Q1 dividend of $2.20 (+4.8% YoY), liquidity >$9B and a net debt/EBITDA of 5.0x after ~$9B of financing activity last year.
• Management warned of tariff-related pressure on retailers driving heightened tenant credit risk and potential bankruptcies, and guided for $0.25–$0.30 higher net interest expense versus 2025, which could weigh on near-term FFO if retail headwinds intensify.

Simon Property Group Stock Performance

NYSE:SPG opened at $189.34 on Wednesday. The stock has a market capitalization of $61.81 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 7.10 and a beta of 1.39. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $193.50. The firm has a 50 day moving average of $185.05 and a 200-day moving average of $180.05.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s dividend payout ratio is currently 128.09%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SPG shares. Citigroup upped their target price on Simon Property Group from $170.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $184.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday. Piper Sandler restated an “overweight” rating and issued a $230.00 price objective (up previously from $225.00) on shares of Simon Property Group in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a research note on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $195.79.

Insider Activity

In related news, Director Glyn Aeppel purchased 216 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, for a total transaction of $40,176.00. Following the transaction, the director directly owned 19,481 shares in the company, valued at approximately $3,623,466. This represents a 1.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Reuben S. Leibowitz acquired 480 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average cost of $186.00 per share, for a total transaction of $89,280.00. Following the acquisition, the director owned 53,639 shares in the company, valued at approximately $9,976,854. The trade was a 0.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 2,192 shares of company stock worth $407,712. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simon Property Group

Institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors increased its holdings in shares of Simon Property Group by 2.5% in the third quarter. Captrust Financial Advisors now owns 25,486 shares of the real estate investment trust’s stock valued at $4,783,000 after purchasing an additional 622 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Simon Property Group by 17.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 8,297 shares of the real estate investment trust’s stock valued at $1,557,000 after buying an additional 1,253 shares during the last quarter. Stance Capital LLC acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at $26,000. Advisory Services Network LLC raised its position in shares of Simon Property Group by 6.9% during the third quarter. Advisory Services Network LLC now owns 24,211 shares of the real estate investment trust’s stock worth $4,544,000 after acquiring an additional 1,561 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Simon Property Group by 777.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 28,566 shares of the real estate investment trust’s stock worth $5,361,000 after acquiring an additional 25,311 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.